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An Investigation of the Effect of Eco-Labeling on Office Occupancy Rates

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Author Info
Franz Fuerst () (School of Real Estate & Planning, University of Reading Business School)
Patrick McAllister () (School of Real Estate & Planning, University of Reading)

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Abstract

This paper investigates the effect of eco-labeling on the occupancy rates of commercial offices in the US. The occupancy rates of LEED and Energy Star labeled offices are compared to a sample of non-labeled offices. Using OLS and quantile regression analyses, a significant positive relationship is found between occupancy rate and the eco-label. Controlling for differences in age, height, building class and quality, the results suggest that occupancy rates are approximately 8% higher in LEED labeled offices and 3% higher in Energy Star labeled offices. However, for Energy Star labeled offices effects are concentrated in certain market segments.

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File URL: http://www.henley.reading.ac.uk/rep/fulltxt/0809.pdf
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Publisher Info
Paper provided by Henley Business School, Reading University in its series Real Estate & Planning Working Papers with number rep-wp2009-08.

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Length: 24 pages
Date of creation: 2009
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Handle: RePEc:rdg:repxwp:rep-wp2009-08

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Find related papers by JEL classification:
Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
R33 - Urban, Rural, and Regional Economics - - Production Analysis and Firm Location - - - Nonagricultural and Nonresidential Real Estate Markets

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Matthew J. Kotchen, 2006. "Green Markets and Private Provision of Public Goods," Journal of Political Economy, University of Chicago Press, vol. 114(4), pages 816-845, August. [Downloadable!] (restricted)
  2. Roger Koenker & Kevin F. Hallock, 2001. "Quantile Regression," Journal of Economic Perspectives, American Economic Association, vol. 15(4), pages 143-156, Fall. [Downloadable!] (restricted)
  3. G. Stacy Sirmans & C.F. Sirmans & John D. Benjamin, 1990. "Rental Concessions and Property Values," Journal of Real Estate Research, American Real Estate Society, vol. 5(1), pages 141-152. [Downloadable!]
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